Cosco Wins $200M Deal to Build Accommodation Vessel

Cosco Corporation (Singapore) Limited announced that Cosco (Nantong) Shipyard Co. Ltd. - a subsidiary of the Company’s 51 percent owned subsidiary Cosco Shipyard Group Co. Ltd. - has bagged a contract worth over $200 million from a Mexican incorporated company COTEMAR S.A. De C.V. to build a harsh environment semisubmersible accommodation vessel.

The vessel, which will be built to GustoMSC Ocean500 design, will have a Dynamic Positioning 3 system and have a capacity of 750 Persons on Board. The accommodation vessel is equipped to operate in the Santos Basin, Gulf of Mexico and in the North Sea.

"COTEMAR S.A. De C.V. has now exercised the first option unit awarded by Cosco. COTEMAR S.A. De C.V., was awarded altogether two options units in March 2012 when the 1st unit hull were contracted," Cosco said in a press release.

The vessel is scheduled for delivery in 24 months time.

Last month, a Singapore entity awarded Cosco contracts, valued at over $170 million each, to convert two semi-completed hulls to high-end floating accommodation units.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Genel can 'Plan with Confidence' in 20... (Jan 24)
 -  Savannah: Niger R3 License Area 3D Sei... (Jan 24)
 -  BridgeTex to Boost Capacity of Permian... (Jan 24)
 -  Republicans Laud Trump's Pipeline Revi... (Jan 24)
 -  Petronas: LNG Train 9 in Sarawak Moves... (Jan 23)


Most Popular Articles

From the Career Center
Jobs that may interest you
Quality & Technical Supervisor
Expertise: QA / QC / Inspection
Location: Pennsylvania, PA
 
Offshore Natural Gas Engine Mechanic
Expertise: Mechanic
Location: Louisiana, United States, LA
 
QA/QC Manager
Expertise: QA / QC / Inspection
Location: Houston
 
search for more jobs

Brent Crude Oil : $55.23/BBL 0.46%
Light Crude Oil : $52.75/BBL 0.62%
Natural Gas : $3.24/MMBtu 1.25%
Updated in last 24 hours